Company Deep Dive
Business segments breakdown, earnings transcript analysis, management credibility scoring, competitive landscape, and scenario modelling.
DCBO
BUYREMOVEDocebo Inc. · Technology · Canada · $457M · Avg Vol: $3M/d
Docebo is an innovative LMS provider, but it operates in a highly competitive software niche with low switching costs compared to enterprise giants. It lacks the clear, un-copyable moat and scale economics shared that we require for a high-conviction position.
COMPANY DESCRIPTION
Docebo Inc. offers an AI-powered, cloud-based learning management system (LMS) for enterprises, enabling the automation and personalization of learning experiences for employees, customers, and partners. Its differentiation lies in its AI-driven capabilities, which provide efficient and scalable learning solutions, fostering strong customer retention. Docebo is a pure-play SaaS company specializing in corporate e-learning, positioned in a rapidly growing market for digital talent development.
FINANCIAL SUMMARY
| Year | 2022 | 2023 | 2024 | 2025 | CAGR |
|---|---|---|---|---|---|
| Revenue | 143M | 181M | 217M | 243M | 19.3% |
| EPS | 0.21 | 0.09 | 0.88 | 1.31 | 84.1% |
| Shares | 33M | 30M | 30M | 29M | -12.7% |
| Debt | 3M | 2M | 1M | 3M | -5.8% |
| Equity | 192M | 51M | 58M | 74M | -27.2% |
| Op CF | 2M | 16M | 29M | 28M | 130.9% |
| Inv CF | -2M | -10M | -1M | -2M | — |
| Fin CF | 2M | -151M | -7M | -47M | — |
SCORE BREAKDOWN
FUNDAMENTALS
SECTOR PEERS
Closest peers in Technology, ranked by industry match, size, and score similarity. Cross-listings of DCBO are excluded.
| Ticker | Company | Mkt Cap | StockRank | Signal |
|---|---|---|---|---|
| DCBO | Docebo Inc.(you) | $457M | 73 | BUY |
| TCS.TO | Tecsys Inc. | $395M | 73 | BUY |
| CMG.TO | Computer Modelling Group Ltd. | $214M | 75 | BUY |
| ENGH.TO | Enghouse Systems Limited | $695M | 96 | STRONG BUY |
| LSPD.TO | Lightspeed Commerce Inc. | $1.3B | 57 | HOLD |
| KXS.TO | Kinaxis Inc. | $2.9B | 80 | BUY |
| URL.CN | NameSilo Technologies Corp. | $102M | 51 | HOLD |
| DSG.TO | The Descartes Systems Group Inc. | $6.2B | 73 | BUY |
| OTEX | Open Text Corporation | $5.7B | 82 | STRONG BUY |
| AZ | A2Z Cust2Mate Solutions Corp. | $297M | 15 | STRONG SELL |
Peer medians: ROE 7.3% · P/E 37.0x · Gross margin 48.0%